German Factory Orders rise 7.0% MoM in June vs. -2.0% expected

The German Factory Orders data showed a solid improvement in June, suggesting that the manufacturing sector recovery is extending for the second straight month.

Contracts for goods ‘Made in Germany’ jumped 7.0% on the month vs. -2.0% expected and 6.2% previous figure, the latest data published by the Federal Statistics Office showed on Friday.

On an annual basis, the German Industrial Orders increased by 3.0% in the reported month, as against the 4.4% decline seen in May.